NUGL Inc (OTCMKTS:NUGL) is best known for operating a multimedia platform and a search directory that are dedicated to the cannabis industry. Although the company was in the news last Thursday it did not lead to much of a move in the stock and the NUGL stock remained within a range.
Market Action
On Thursday, NUGL stock fell 2% to $0.0365 with 16K shares, compared to its average volume of 94K shares. The stock has moved within a range of $0.0365 – 0.0370 after opening trade at $0.0370.
NUGL Launches Kushstock Magazine and Multimedia Live Streaming & Video Platform
Nonetheless, it may be a good move from investors to take a look at the announcement from the company. The company announced that it had decided to re-launch is NUGL Magazine. The re-launch is going to happen in line with the Kushstock Festival.
It goes without saying that the news about the re-launch of the magazine is a significant development for NUGL and it is going to be interesting to see if the stock comes into focus among investors or not.
The magazine is going to offer digital, video and print media support to the Kushstock Festival and NUGL possibly expects to get significant traction at the event. The festival is being held in the city of Adelanto in California at this point in time. It may be a good move from investors to possibly keep an eye on the developments in the coming days.
Key Quote
“I wanted Kushstock to last forever and be ongoing throughout the year. Not only will we be throwing a festival every quarter, but we’ll have all the media assets of NUGL at our disposal, NUGL TV, and Kushstock Magazine to align our goals with. This will give Kushstock the ability to offer marketing opportunities like never before,” said Dr. K, founder of Kushstock Festival.
Traders Note
NUGL stock is trading below the 20-Day and 50-Day Moving averages of $0.0379 and $0.0411. Moreover, the stock is trading is the neutral zone with RSI stands at 45.
 Stock Continues to Trade in a Narrow Range){kind=link}